Fomento Economico Mexicano (NYSE:FMX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $107.66 and traded as high as $122.42. Fomento Economico Mexicano shares last traded at $121.4230, with a volume of 342,741 shares traded.

Analysts Set New Price Targets

FMX has been the topic of several analyst reports. Weiss Ratings raised Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. The Goldman Sachs Group increased their target price on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. UBS Group increased their target price on Fomento Economico Mexicano from $109.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wall Street Zen lowered Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a report on Monday, May 11th. Finally, Barclays raised their price objective on Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Fomento Economico Mexicano has an average rating of “Moderate Buy” and an average target price of $114.33.

Fomento Economico Mexicano Stock Up 0.1%

The firm has a 50 day moving average of $114.94 and a two-hundred day moving average of $107.66. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 0.83 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The business had revenue of $11.61 billion for the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. As a group, sell-side analysts anticipate that Fomento Economico Mexicano S.A.B. de C.V. will post 4.87 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Wednesday, April 22nd were paid a $0.6658 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 2.2%. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 53.47%.

Insiders Place Their Bets

In related news, Director Garza Alfonso Garza sold 52,311 shares of the firm’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $11.19, for a total value of $585,360.09. Following the sale, the director directly owned 1,128,453 shares of the company’s stock, valued at $12,627,389.07. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 261,575 shares of company stock valued at $2,795,188 over the last quarter. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Fomento Economico Mexicano

Several large investors have recently bought and sold shares of the company. Summitry LLC raised its position in Fomento Economico Mexicano by 3.3% in the first quarter. Summitry LLC now owns 6,606 shares of the company’s stock valued at $734,000 after purchasing an additional 208 shares during the last quarter. Groupama Asset Managment raised its position in Fomento Economico Mexicano by 4.1% in the first quarter. Groupama Asset Managment now owns 4,614 shares of the company’s stock valued at $512,000 after purchasing an additional 181 shares during the last quarter. Amundi raised its position in Fomento Economico Mexicano by 9.8% in the first quarter. Amundi now owns 613,753 shares of the company’s stock valued at $68,163,000 after purchasing an additional 54,786 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Fomento Economico Mexicano by 41.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,875 shares of the company’s stock valued at $208,000 after purchasing an additional 545 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Fomento Economico Mexicano by 3.2% in the first quarter. Royal Bank of Canada now owns 6,218,709 shares of the company’s stock valued at $690,649,000 after purchasing an additional 193,432 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.